COVID Finances Check In - July

@maezee (41988)
United States
July 6, 2020 11:08pm CST
How's it going? It's Monday here in my world. Hope everyone is doing well and staying safe. I wanted to post a little "COVID finances update", to keep myself on track and keep track of the debt I am working on paying down. My goal is to have ZERO student loan debt by "the fall" - I haven't actually given myself a deadline for this or what "the fall" means, but I will eventually. I have been really trying to cut back on spending, since the biggest expenditure for me, after rent, is usually my "fun money", which includes traveling, shopping, gambling, drinking. (I have a lot of vices). But, I have been cleaning up a lot of debt with COVID. I have been also making a big effort to work more overtime than in the past. Number one, it makes me money, but it also saves me from shopping/spending a little bit. I have been blessed to continue to be employed with some overtime opportunities, COVID having not reduced my hours in any way. THANK goodness. Current Stats compared to last month: Credit Card Debt: $0 Auto Loan: $11,149 (paid down $288 since last month) Student Loan: $3,000 (paid down $540 last month!) Total Debt currently: $14,149 (down from last month, $14,977 - paid off a total of $828 last month! Yeehaw!) The numbers are really surprising and great! I am excited to see this old federal student loan go away...forever. The car payment, is going to be a while. I may spend a little bit of money this next week on my driving road trip, but honestly probably not that much since all I need to cover is gas and food/drink. May be even cheaper than me staying in town. How are your financial goals coming along? Do share!
9 people like this
12 responses
@Young_boy (1055)
• Bekasi, Indonesia
7 Jul 20
This pandemic teach me to manage my money. Iam saving 30% of my salary every months and i just buy something when i need it not if i just want it.
3 people like this
@maezee (41988)
• United States
7 Jul 20
That is GREAT news and I am glad to hear that I am not the only one who is learning to be more financially responsible. This has been a game-changer for me for sure. Best of luck, keep saving!!!
1 person likes this
@Young_boy (1055)
• Bekasi, Indonesia
7 Jul 20
@maezee thankyou
1 person likes this
@SHOHANA (16093)
• Bangladesh
7 Jul 20
I will be happy if I can afford my hostel bill in this corona pandemic, financially we all are broken more or less
2 people like this
@maezee (41988)
• United States
7 Jul 20
Do you live in a hostel? I am glad you are managing to scrape by. best of luck to you.
2 people like this
@SHOHANA (16093)
• Bangladesh
7 Jul 20
@maezee thanks yes I'm in a hostel, I'm alone in 5th floor as all roommates at their home. I'm living with peace
2 people like this
• India
9 Jul 20
@SHOHANA I thought hostels are restricted to college campus. Aren't they closed by now?
1 person likes this
@NJChicaa (120172)
• United States
7 Jul 20
good job!
1 person likes this
• Agra, India
7 Jul 20
This is good. I hope you are able to clear all of it soon
1 person likes this
@Nakitakona (56486)
• Philippines
7 Jul 20
We just live within our means. No loans. No financial obligations.
1 person likes this
@Adie04 (17360)
7 Jul 20
I also have student financial loan to pay. But my goal is to able to pay every month and not let any outstanding balance. It's more problematic.
1 person likes this
• India
9 Jul 20
What is the major expense anyways?
@pumpkinjam (8769)
• United Kingdom
7 Jul 20
You are doing well, and lucky to be able to keep working and paying it all off. I don't have many debts and am managing to pay off what I do owe. I'm even able to save quite a bit as well. We've saved for a new computer (which my husband is hoping to get later in the year), and we're putting some away for holidays and, maybe, a car. I've been working from home, my son has been home-schooling, so that means we've saved quite a lot by not having to pay out for bus fares. I don't want to go back to the office as I'm financially better off now!
@GreatMartin (23671)
• Ft. Lauderdale, Florida
7 Jul 20
Not having a car has allowed me to go to the movies, theatre, eat out, etc., With the savings of about $6,000 a year I can afford uber, lyfte plus I don't run out to get something on sale because I have a car!! Yes I miss a car now and then because this is a hard city to get around without one but I am surviving!!
@just4him (317259)
• Green Bay, Wisconsin
7 Jul 20
That's awesome you're getting your student loan paid down. Soon it will be gone and you can focus on the car. I'm debt-free.
@nawala123 (20871)
• Indonesia
8 Jul 20
Corona has destroyed many thing and we have great damage financially
• India
9 Jul 20
Corona forced me to find a social network that paid. Otherwise I would have never bothered.
@sitia1 (135)
7 Jul 20
My husband is a music teacher. Covid effect make my husband income decreases/ month. Now the salary is half before, fortunately we are dont have credits payments. Just pay electricity bills, internet, and foods satples. Usually saving every month, but only half to saving now. Our fear is that one time my husband's student quits online classes. Because,its not clear when the school will respon. So, we have to live very frugally and prepare for financial risks.
• India
9 Jul 20
How the money is spent? This the question that is very important when trying to accomplish financial goals.